SCOTTSDALE, Ariz., Oct. 16, 2017 /PRNewswire/ -- Voya
Investment Management, the asset management business of Voya
Financial, Inc. (NYSE: VOYA), announced today the monthly
distributions on the common shares of two of its closed-end funds
(each a "Fund" and collectively, the "Funds").
With respect to each Fund, the distribution will be paid on
November 15, 2017, to shareholders of
record on November 2, 2017. The
ex-dividend date is November 1, 2017.
The distribution per share for each Fund is as follows:
|
Fund
|
Distribution Per
Share
|
|
|
|
Voya Global Equity
Dividend and Premium Opportunity Fund (NYSE: IGD)
|
$0.061
|
|
Voya International
High Dividend Equity Income Fund (NYSE: IID)
|
$0.052
|
Each Fund intends to make regular monthly distributions based on
the past and projected performance of the Fund. The amount of
monthly distributions may vary, depending on a number of factors.
As portfolio and market conditions change, the rate of
distributions on the common shares may change. There can be
no assurance that a Fund will be able to declare a distribution in
each period. Past performance is no guarantee of future
results.
The tax treatment and characterization of a Fund's distributions
may vary significantly from time to time depending on the net
investment income of the Fund and whether the Fund has realized
gains or losses from its options strategy versus gain or loss
realizations in the equity securities in the portfolio. Each Fund's
distributions will normally reflect past and projected net
investment income, and may include income from dividends and
interest, capital gains and/or a return of capital.
The portion of each Fund's monthly distributions estimated to
come from the Fund's option strategy, for tax purposes, may be
treated as a combination of long-term and short-term capital gains,
and/or a return of capital. The tax character of each Fund's option
strategy is largely determined by movements in, and gain and loss
realizations in the underlying equity portfolio. Under certain
conditions, federal tax regulations may also cause some or all of
the return of capital to be taxed as ordinary income. The final tax
characteristics of the distributions cannot be determined with
certainty until after the end of the calendar year, and will be
reported to shareholders at that time.
IGD estimates that for the current fiscal year as of
September 30, 2017, approximately 27%
of each distribution is characterized as net investment income, 13%
is characterized as short-term capital gain and 60% is
characterized as return of capital.
IID estimates that for the current fiscal year as of
September 30, 2017, approximately 28%
of each distribution is characterized as net investment income and
72% is characterized as return of capital.
Shares of closed-end funds often trade at a discount from their
net asset value. The market price of Fund shares may vary
from net asset value based on factors affecting the supply and
demand for shares, such as Fund distribution rates relative to
similar investments, investors' expectations for future
distribution changes, the clarity of the Fund's investment strategy
and future return expectations, and investors' confidence in the
underlying markets in which the Fund invests. Fund shares are
subject to investment risk, including possible loss of principal
invested. No Fund is a complete investment program and you
may lose money investing in a Fund. An investment in a Fund
may not be appropriate for all investors. Before investing,
prospective investors should consider carefully the Fund's
investment objective, risks, charges and expenses.
Certain statements made on behalf of the Funds in this release
are forward-looking statements. The Funds' actual future results
may differ significantly from those anticipated in any
forward-looking statements due to numerous factors, including but
not limited to a decline in value in equity markets in general or
the Funds' investments specifically. Neither the Funds nor Voya
Investment Management undertake any responsibility to update
publicly or revise any forward-looking statement.
This information should not be used as a basis for legal and/or
tax advice. In any specific case, the parties involved should seek
the guidance and advice of their own legal and tax counsel.
About Voya® Investment Management
A leading, active asset management firm, Voya Investment Management
manages, as of June 30, 2017, more
than $217 billion for affiliated and
external institutions as well as individual investors. With 40
years of history in asset management, Voya Investment Management
has the experience and resources to provide clients with investment
solutions with an emphasis on equities, fixed income, and
multi-asset strategies and solutions. Voya Investment Management
was named in 2016 as a "Best Places to Work" by Pensions and
Investments magazine. For more information, visit
voyainvestments.com. Follow Voya Investment Management on Twitter
@VoyaInvestments.
SHAREHOLDER INQUIRIES: Shareholder Services at (800) 992-0180;
voyainvestments.com
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SOURCE Voya Investment Management